Find the simple interest on ₹27,000 at \(14 \frac{2}{3} \%\) per annum for 8 months.

This question was previously asked in
SSC CGL 2023 Tier-I Official Paper (Held On: 27 Jul 2023 Shift 1)
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  1. ₹2,600
  2. ₹2,630
  3. ₹2,610
  4. ₹2,640

Answer (Detailed Solution Below)

Option 4 : ₹2,640
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Detailed Solution

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Given:-

Principal (P) = ₹27,000

The rate (R) = 44/3% per annum,  

Time (T) =  8 months = (8/12)year

Formula used:- 

Simple Interest (SI) = (Principal  × Rate  ×Time) / 100

Calculation:-

SI = (27000 × 44 × 8)/ (3 × 12 ×100)  

⇒ SI = 60 × 44 = 2640 Rs.  

∴ The required answer is 2640.

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